The NetSuite Accountant

How to complete your first bank reconciliation in NetSuite

Paul Giese Jun 16, 2022 8:18:00 AM
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Introduction

You will need to complete your first bank reconciliation shortly after going live with NetSuite. Bank reconciliations are a critical process for safeguarding cash. This control process ensures that multiple eyes are cash outflows. In addition, being able to reconcile your bank accounts quickly is essential for management reporting and control compliance.

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Five resources for new NetSuite users

Paul Giese Jun 15, 2022 8:43:00 AM
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Questions always arise when you recently implemented NetSuite. Where can you get online resources? Thankfully, there are many valuable NetSuite resources available. Whether it is asking a forum for advice or reading up on a specific technical issue, these resources have you covered.

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How to import open AR transactions into NetSuite

Paul Giese May 24, 2022 11:51:06 AM
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Introduction

Importing open accounts receivable (AR) transactions during a NetSuite implementation is required to begin receiving payments for outstanding invoices in NetSuite. This post will discuss the process of preparing, loading, and validating your open balances from your legacy detailed AR aging report.  

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How to export all general ledger transactions from QuickBooks Online

Paul Giese May 18, 2022 12:53:07 PM
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Exporting the entire general ledger (GL) transaction list in a clean, tabular format has many benefits for the accounting team. These include:

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How to import open accounts payable transactions to NetSuite

Paul Giese May 10, 2022 1:11:34 PM
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Introduction

Importing open accounts payable (AP) transactions during a NetSuite implementation is required to begin paying outstanding bills in NetSuite. This article will discuss preparing and uploading the closing AP balance from your legacy system into NetSuite. The screenshots I use are from QuickBooks Online. However, the approach will be the same, regardless of the legacy system.

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How to import open bank transactions to NetSuite

Paul Giese May 10, 2022 9:42:40 AM
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Importing open bank transactions is one of the last data migration tasks. Users need to load two sets of transactions - (1) uncleared bank transactions from the previous bank reconciliation and (2) new cash transactions dated in the current month. Loading open bank transactions is required to complete the first bank reconciliation. In this blog post, we will walk through how to prepare and upload open bank transactions from QuickBooks Online. My example is using QuickBooks Online. However, the theory is the same regardless of your legacy system.

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Seven reasons to trust intheBlk with your NetSuite data migration

Paul Giese May 9, 2022 7:15:00 AM
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Ask an ERP consultant about loading historical transactions, and they are likely to cringe, cry, or persuade you to think again. There is a good reason for this. Anderson Frank, a NetSuite recruitment agency, recently estimated that the #2 cause of project delays is due to data migration. Loading detailed transactional data vs. summary level data creates significant risk if the person preparing this data isn’t careful.

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Six accounting clean up items to address before implementing NetSuite

Paul Giese May 5, 2022 11:06:08 AM
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Looking for additional NetSuite implementation resources? Check out our implementation resource page for more information.

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Add a drill-down report to the NetSuite financial statements

Paul Giese Apr 28, 2022 5:06:40 PM
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The ability to drill into account activity on the income statement is critical for effective reporting in NetSuite. A common pain point is the need to customize the detailed income statement report every time a user drills into the account activity on a summary income statement. In this article, let’s talk about adding a custom drill-down report.

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Two ways to prepare historical monthly financials in NetSuite

Paul Giese Apr 25, 2022 7:45:00 AM
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There are two approaches a user can take when preparing monthly journal entries for historical financial statements. There are pros and cons to each approach that depend on different circumstances. This article will discuss both methods and when to use each.

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